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Customer relationship management (CRM) is a collection of strategies and practices companies employ to manage customer relationships throughout the sales cycle. It involves the use of technology, tools, and processes to collect and analyze information about prospects and customers.

The goal is to improve the quality of the customer experience and eventually increase revenue for the business. A CRM system provides sales reps with detailed data on potential customers, including their purchase history, and provides support teams all the data they need to resolve problems quickly. The best CRM systems also come with marketing capabilities that enable companies to send specific messages to prospects and customers based on their interactions with the company.

It is essential to know the distinctions between the different CRM systems available. A few of the most popular CRM systems are integrated into enterprise resource planning (ERP) software, and others are stand-alone solutions. You should look for a solution that integrates seamlessly with existing martech stacks, and can take on multiple tasks.

If a company implements a CRM system, it can create a positive image for their brand that will boost customer loyalty and increase sales. Customers who are loyal to the company are more likely to endorse your products and services to their colleagues and friends Therefore, it is essential to build connections with them. A great way to do this is through customer advocacy programs, which reward customers for their loyalty to the business.